Oh, I’m sure there are some who are overcharging. I know it’s happening at car dealerships, above what you could call a seller’s market. But, this is not the car manufacturers doing it, but, dealers. Are gas stations overcharging? If some are, that’s not on the gas companies, but, the individual station owners. Heck, the price of gas is mostly set by the trading of gas on the commodities market, along with production costs, shipping, refining, drilling, exploration, etc. But, Democrats do not really want to do anything, they want some Outrage Theater that plays well with their unhinged base, and perhaps pick off a few flippers
A bill that would set gas price limits and prevent ‘exploitative’ cost hikes is headed for a House vote
Congress will vote next week on a bill that would prohibit “excessive” gas prices.
The legislation would enable President Joe Biden to issue an emergency energy declaration making it illegal to increase gas and home energy prices in an “exploitative” manner. The bill, titled the Consumer Fuel Price Gouging Act, would give the Federal Trade Commission the authority to crack down on oil companies with over $500 million in annual consumer fuel sales.
In a press conference announcing the legislation on Thursday, House Speaker Nancy Pelosi said “price gouging needs to stop.”
“While families are struggling to pay higher prices at the pump, oil and gas companies are recording record profits,” Pelosi said. “This is a major exploitation of the consumer, because this is a product the consumer must have,” she added.
This will go exactly nowhere. The Dems might pass it in the House, but, it will die in the Senate, and that’s what they want. It’s also dangerous investing more power to go after Wrongthink companies in the Executive Branch, with virtually no oversight nor limits. Nor would it change the price of gas and energy one bit. Dems expect it to die, so they can demagogue it in the runup to the midterms.
The legislation is just the latest attempt by Democrats to address surging fuel prices. Democratic leaders have also considered creating initiatives to incentivize US oil companies to ramp up production.
How will this help? They don’t mention that. What’s exploitative? Let’s take a look at parts of the actual bill
(1) IN GENERAL.—It shall be unlawful for any person to sell a consumer fuel, at wholesale or retail, in an area and during a period of an energy emergency covered by a proclamation issued under para5 graph (2) at a price that—
(A) is unconscionably excessive; and
(B) indicates the seller is exploiting the circumstances related to an energy emergency to increase prices unreasonably
And how is that defined?
(i) Whether the amount charged by such person grossly exceeds the average price at which the consumer fuel was offered for sale by such person during—
(I) the 30-day period before the date on which the proclamation was issued;
What’s grossly? What if one station near an interstate is 10 cents higher than in town? Is that grossly? During normal times the station out in Knightdale near I540 is higher than the station near my community. I pass both almost every day going to and/or from the gym. Can we consider the difference between NC and California, where the price seems unconscionably excessive? Where’s the line? The only line seems to be whatever Biden considers it to be. Nothing hard.
The bill was first put forward by Reps. Katie Porter (D-California) and Kim Schrier (D-Washington) last week. They railed against the oil companies that they say have profited from record gas prices.
“What’s infuriating is that this is happening at the same time that gas and oil companies are making record profits and taking advantage of international crises to make a profit,” Schrier said. “This must stop.”
Rather Ironic that this comes from Reps of states with massively high gas prices, in large part to taxation and other government activity.
If gas stations are gouging, the local and state authorities will be all over it. We do not need Los Federales involved. Mind your own business.
Read: Performance Art: Dems To Vote On Bill Cracking Down On “Exploitative” Cost Hikes »
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